Iowa stocks have a rocky start in 2022
Ten of the 16 Iowa-based companies on the Business Record’s Iowa Index posted stock price losses for the month of January, two being double-digit percentage losses. Five Iowa-based stocks posted gains. One company was unchanged.
United Fire Group Inc. had the largest gain of the month with a 6.13% increase. American Equity Investment Life Holding had the second-biggest gain at 5.62%. Lee Enterprises Inc. had the third-biggest with a 4.72% increase. On Jan. 24, newspaper publisher Lee Enterprises asked its shareholders to help it fight off a hostile takeover offer from “vulture hedge fund” Alden Global Capital, according to the Associated Press.
Heartland Express Inc. posted the biggest percentage loss at 11.64%. Workiva Inc. had the second-biggest loss with a 10.52% decrease. Flexsteel Industries Inc. was third with a 7.57% decrease.
On Dec. 1, IAC company Dotdash announced the completion of its acquisition of Meredith Holdings Corp., in an all-cash transaction at a purchase price of $42.18 per share. Meredith has been replaced with IAC on the Business Record’s list of companies with sizable operations in the state, and removed from the Iowa Index. QCR Holdings Inc., a financial services company headquartered in Moline, Ill., will also be added to our list. Lastly, Deere & Co. has been removed from the Iowa Index but will still remain on the longer list of companies with operations in the state.
The Iowa Index, an unweighted average price of 16 Iowa-based public companies, decreased 0.14% in January, compared with a 9.54% decrease in the Nasdaq stock index and a 3.48% decrease in the Dow Jones Industrial Average.
The Iowa-based companies that make up the Iowa Index are in bold in this list of companies with sizable operations in the state.
See the full Iowa Index